The DRT-I, Chandigarh decided an OA filed by Indian Overseas Bank for recovery of dues of Rs. 25,84,872/-. The bank proved the loan and security. The court allowed the recovery application and directed the sale of mortgaged property.
Allowed recovery of Rs. 25,84,872/- with interest; directed joint and several liability; ordered sale of mortgaged property.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 656 of 2022 Date of Institution: 30.03.2022 Date of Decision: 29.10.2025
Indian Overseas Bank having its branches all over India and a branch at Mukerian Branch, Talwara Road, District Hoshiarpur, Punjab.
……..Applicant
Vs.
Alternate Address:
Kamaljit Singh s/o Jaspal Singh r/o H.no.6, Village Naushiera Pattan, Tehsil Mukerian, District Hoshiarpur, Punjab.
……….Defendants
Advocates
Sh. Satish Jaswal proxy counsel for Sh. Mohit K. Goel, Counsel for the applicant bank. Defendants - ex parte .
OA for the Recovery of Rs.25,84,872/- with interest @13.75% per annum with half-yearly rests from 30.03.2022.
ORDER
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to interest @13.75% per annum with half-yearly rests. The defendants had acknowledged the liability towards the debt on 18.07.2014, 23.03.2016, 20.04.2016, 05.01.2019. On 29.03.2022, a sum of Rs.25,84,872/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
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mortgaged property(ies) and standing crops as per the provisions of Section 19(20-AB) of the Act .
1 issue framed by the court
Whether the bank successfully proved the loan amount and outstanding dues to invoke recovery powers.
2 provisions across 1 enactments
Indian Overseas Bank
Kamaljit Singh
Ravinder Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
